DislikedHi,
On what grounds do you think that all traders, specifically private persons will require a qualification/license to engage in the fin. markets?
If the government only want the 'big players' in the market, who were the players that contributed to the recent financial problems (as far as I know, there were hardly any retail traders involved in CDO's and other sub-prime speculation)?
I am not sure about the US, but here in the UK it is not quite possible to 'dodge' taxes by changing your residential status - in fact, changing your residential...Ignored
Its actually very easy to avoid tax when it comes to forex income. I work for a large banks trading floor who have a tax/account dept that can find loopholes in just about anything.
The UK government has brought in some tax changes to bonuses which is resulting in allot of traders being relocated to Switzerland, Hong Kong, Singapore and elsewhere. Over the next 18 months or so the city of London will also become very different with many firms leaving etc.
Its very hard to see where the UK's future tax revenues will come from!.
Scoobs.